A balance of trade deficit exists when
A. net exports are negative.
B. net exports are positive.
C. exports equal imports.
D. exports exceed imports.
A. net exports are negative.
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During a severe recession, the government decides to lower its tax rates to give consumers relief, and allow them to pay less in taxes. This is an example of:
A. discretionary fiscal policy. B. an automatic stabilizer. C. contractionary fiscal policy. D. expansionary fiscal policy.
For most welfare recipients, the negative income tax plan would increase incentives to work.
Answer the following statement true (T) or false (F)
Union membership, in terms of percentage of the U.S. civilian labor force
A. was over 50 percent in 2020. B. has increased steadily since the passage of the Wagner Act. C. has increased dramatically since 1970. D. peaked about 1960 and has since declined.
Which of the following is a TRUE statement about stock markets?
A) Economists can make above-average profits in the stock market because of their specialized knowledge of economics. B) It is always better to buy growth stocks than the older and more stable blue-chip stocks. C) The stock market on average over time is random and totally unrelated to the performance of the economy. D) It is illegal for a friend of a corporate executive to make large profits in the stock market by using his inside information.